Greater Central Texas Federal Credit Union,
3305 E Elms Road
Killeen, TX 76542
Telephone: 254-690-2274
www.gctfcu.net

Choosing The Right Car Loan In Killeen, TX

17. December 2014 Administrator Car Loan (0)

Various financial institutions offer car loans with different repayment options. However as a borrower, it is important that you understand your requirements and affordability to avoid any difficulties while repaying the loan amount. 
Here are some important tips that you must keep in mind while choosing a car loan:

  • Determine your affordability: Undoubtedly, this is the most important per-requisite of applying for a car loan. It is very important to establish your budget for the loan amount to ensure you can pay it off easily. Therefore, determine all our monthly expenses and determine the amount that you would be able to spare monthly. Some people may have the misconception that making large repayments is a good way to pay the loan off early. However, this extra expenditure every month cost can also cause you to financially struggle for your basic needs.
  • Know your budget: After you have set aside the amount that you can afford, you must work upon how you will manage your expenses. If you do not have a steady income, you should opt for a loan that offers flexible repayment options. Make sure that you chalk out a budget that seems practical and realistic.
  • Determine your chances of approval: Most financial institutions have a specified set of criterion to decide on if an applicant’s loan should be approved or not. You should consider your credit history, annual income and other relevant factors to determine the approximate loan amount that you can be lent.
  • Secured or unsecured loan: A secured loan would need you to put up collateral against the money borrowed. In case you fail to pay the loan back, the collateral will be possessed by the lender. Unsecured loans, on the other hand, will possibly have higher interest rates due to no such security. You should be aware of the stakes and take a well informed decision.
  • Interest rates: You must also decide between fixed and variable interest rates. Fixed rates would help you have a clear idea of your monthly repayments, and therefore, manage your budget accordingly. Variable rates however are subject to change according to the present market conditions but can offer benefits too.

We at Greater Central Texas Federal Credit Union offer convenient and instant car loans at affordable rates of interest. For more details, feel free to call us at (254) 690 - 2274 or visit our office at 3305 E Elms Road Killeen, TX 76542.

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GCTFCU Blog | Secured Auto Loans At Greater Central Texas Federal Credit Union
Greater Central Texas Federal Credit Union,
3305 E Elms Road
Killeen, TX 76542
Telephone: 254-690-2274
www.gctfcu.net

Secured Auto Loans At Greater Central Texas Federal Credit Union

11. April 2015 Administrator Auto Loans (0)
Secured auto loans are a much more convenient and affordable financing option for most people. These require the borrower to put up a personal property or asset as collateral against the loan amount. As a result, the lender gets a security against his money and the interest rates can get much lower.  In most secured auto loans, the collateral pledged is the purchased car itself.

Greater Central Texas Federal Credit Union is a renowned financial institution offering affordable secured auto loans to the people of Killeen, TX. The credit union is a non-profit organization and works solely for the benefit of their members. Greater Central Texas Federal Credit Union provides cheap auto loans but also make sure that the loan is approved in the shortest possible time.

Benefits Of Secured Auto Loans

  • The entire application process for a secured loan will take much less time as you are providing a security for the money being borrowed.
  • The rates of interests offered in secured auto loans are usually low and fixed. Thus, the monthly payments are quite low and stable through the entire loan period.
  • Since you have pledged a valuable possession for the loan, you are most likely to get 100 per cent finance for your car. Also, the expenses for the insurance and registration could also be included in the loan amount. 
  • Depending upon the value of the collateral, it is easy to get a lower interest rate on a secured auto loan. Thus, the monthly repayments will not be a financial burden and you would not need to default on your loan or lower your credit rating.
While searching for secured auto loans in Killeen, make sure you conduct a careful evaluation of the terms and policies of the ones you are considering. You must know the number of missed payments after which your car will be repossessed and if there is a penalty for the prepayment of the loan. You should also make sure you ask the lender about any discounts or extension possible in the loan period. Finally, the most important points when deciding on a secured auto loan are penalties, interest rates and affordability.

For more details about the secured auto loans offered by Greater Central Texas Federal Credit Union, feel free to call us at (254) 690 – 2274 or visit 3305 E. Elms Rd., Killeen, TX  76542.
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GCTFCU Blog | Home Loan Tips: Credit Union Killeen, TX
Greater Central Texas Federal Credit Union,
3305 E Elms Road
Killeen, TX 76542
Telephone: 254-690-2274
www.gctfcu.net

Home Loan Tips: Credit Union Killeen, TX

6. October 2015 Administrator Home Loans (0)
Buying a house is a huge and one time investment for most people. Therefore, it is important to choose a home loan provider wisely so that this liability can be eased to some extent. With so many financing options available, it can be difficult to choose the right one. A credit union is a reliable option that can provide you the loan amount at affordable interest rates, the lowering your monthly repayment amount.

Read on to know about some tips for getting a home loan from a credit union.

  • Research thoroughly: It is suggested to carry out complete research before applying for a home loan. Compare the interest rates of various financial institutions so that you are able to find a plan with affordable interest rates, making it easier to repay the loan. Acquaint yourself with the jargons used in home loan agreements so you can understand the terms and conditions properly.  
  • Check your credit score: Your credit score is an important point of reference when it comes to getting a home loan approval. It helps to determine your consistency in repaying loans, paying taxes etc. The interest rate you are likely to be quoted depends a lot upon your credit score.
  • Decide the monthly installment: It is advisable to apply for a loan that fits your budget. Evaluate your monthly income from all sources and the necessary expenditures to determine the amount that you can spare towards your home loan repayment.  
  • Prepare documents: Make sure you have all the required documents at hand before applying for the home loan. The lender may ask for the closing disclosure from previous home sale (if applicable), alimony funds, relocation agreement and retirement statement etc. You should be prepared with all the documents beforehand in order to make the process hassle-free
  • Read the agreement: You must read each and every point mentioned in the home loan agreement thoroughly. The loan tenure, interest rates, EMI amount, due date for payment and other important details should be clearly mentioned therein. Clear all your doubts and if there is anything that you do not understand, make sure you ask the agent to avoid any confusion later on.
We, at Greater Central Texas Federal Credit Union, provide affordable home loans in Killeen, TX. We offer low interest rate, easy repayment options and flexible loan plans to suit the requirements of the clients. For more information, you can call us at (254) 690 – 2274 or visit our office at 3305 E. Elms Rd., Killeen, TX  76542.

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